Mizuho Issues Positive Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its target price upped by Mizuho from $34.00 to $40.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Raymond James Financial boosted their price objective on shares of Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. TD Cowen reduced their price objective on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and an average price target of $30.68.

Par Pacific Stock Performance

NYSE PARR opened at $33.38 on Monday. The firm’s fifty day moving average price is $31.96 and its two-hundred day moving average price is $23.14. The stock has a market cap of $1.70 billion, a PE ratio of -119.19 and a beta of 1.82. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $36.39. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts expect that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Activity

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total transaction of $193,105.00. Following the transaction, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Terrill Pitkin sold 5,164 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction of $144,437.08. Following the transaction, the senior vice president owned 41,223 shares in the company, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,954 shares of company stock worth $796,308. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in shares of Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after purchasing an additional 586,003 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Par Pacific by 89.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock worth $38,168,000 after acquiring an additional 681,190 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Par Pacific in the 2nd quarter worth about $34,609,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after acquiring an additional 296,536 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock worth $16,500,000 after acquiring an additional 67,481 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.